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The Determinants of Leverage in Tunisian Listed Companies

Author

Listed:
  • Ben Moussa Mohamed Aymen
  • Adel Boubaker

Abstract

Purpose: In this article we studied the determinants of leverage in Tunisian context in the period (2016-2023). Design/methodology/approach: We used a sample of 30 companies listed in Tunisian stock exchange. Findings: By applying a method of panel static we found that return on assets, return on equity, size of firm, capital, economic growth, and inflation have a significant impact on firm leverage. Practical implications: The article identifies the determinants of firm leverage for possible use by managers to protect their companies from unforeseen financial disturbances. Originality/value: Leverage is important in the field of finance of firm. It is useful to increase the investment and the growth opportunities of companies.

Suggested Citation

  • Ben Moussa Mohamed Aymen & Adel Boubaker, 2025. "The Determinants of Leverage in Tunisian Listed Companies," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 109-121.
    • Handle: RePEc:ers:ijebaa:v:xiii:y:2025:i:1:p:109-121
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    More about this item

    Keywords

    Leverage; firm; panel; investment; return on assets.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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